European interest in building a bitcoin treasury is accelerating as governments study the impact of recent national-level purchases of the asset.
Czech Republic sets the pace for national Bitcoin reserves
The recent Czech Republic decision to acquire Bitcoin has sparked intense debate across Europe. Moreover, analysts expect similar moves as policymakers gauge strategic benefits. In a recent coinbase john dagostino interview, Senior Advisor John D’Agostino said it is only a matter of time before more Eurozone states hold Bitcoin on their balance sheets.
D’Agostino argued that the smooth execution of Czechia‘s trade and its clear policy framework will be a key catalyst for peers. Back in November, the Czech Republic disclosed a purchase of $1 million in Bitcoin and other digital assets, including US dollar-denominated stablecoins. However, the transaction was framed as an experiment rather than a speculative bet.
At the time, the country’s central bank explained that the primary objective was to “gain experience with digital markets.” Furthermore, the institution said the initiative would build internal know-how for asset custody, crisis management, and AML verification. That said, officials stressed that they are not planning an aggressive expansion of their BTC exposure.
Despite that caution, D’Agostino expects the Czech National Bank‘s move to reverberate across the bloc. He believes other European authorities will want to test their own digital asset processes so they are not left trailing Prague’s early efforts. “That type of thinking is contagious, and I can see more Eurozone countries following suit very shortly,” he said.
From pilot projects to broader Eurozone Bitcoin adoption
D’Agostino described the step by a stable EU member as “significant” for mainstream acceptance. However, he drew a clear contrast with El Salvador. While San Salvador used BTC as a bold macro experiment, Czechia appears focused on operational readiness and risk management rather than attempting to overhaul its domestic economy.
This focus on learning echoes a wider debate over bitcoin custody and compliance standards at the sovereign level. For many treasuries, the priority is developing secure storage, governance, and regulatory frameworks before committing larger sums. In that context, the Czech Republic bitcoin purchase is seen as a low-risk way to acquire practical expertise.
According to D’Agostino, as national teams gain confidence in crisis handling and AML oversight, interest in a formal bitcoin treasury structure is likely to rise. Moreover, the fact that the pilot comes from a Eurozone economy rather than an emerging market could reduce perceived stigma among traditional policymakers.
Nations race to build strategic Bitcoin reserves
Several countries have moved from observation to action over the last four years. In 2021, El Salvador became the first nation to recognize Bitcoin as legal tender and launched its own Bitcoin Reserve. That decision signaled the start of a new phase for national bitcoin purchases, even as critics warned about volatility.
Four years later, the US is preparing a Strategic Bitcoin Reserve as its own response to the changing monetary landscape. At the same time, China, Bhutan, Ukraine, and the UK are widely seen as part of an emerging sovereign arms race for BTC accumulation. However, not every program is equally transparent, and disclosure practices vary widely.
Beyond these early movers, a second wave of countries is edging closer to tangible country bitcoin reserves. Jurisdictions such as Ireland, Pakistan, Sweden, Kazakhstan, and Indonesia are frequently cited by analysts as future candidates to buy Bitcoin directly. Moreover, these initiatives, combined with the possibility that more european nations buy bitcoin, could reshape long-term supply dynamics.
In summary, the Czech experiment has provided a blueprint for cautious engagement with digital assets at the central bank level. While most governments remain far from full-scale adoption, growing pilot projects and the push toward Eurozone bitcoin adoption suggest that sovereign interest in BTC is entering a more structured, strategic phase.
Source: https://en.cryptonomist.ch/2025/12/12/bitcoin-treasury-eurozone-reserves/
